How Will Cognitive Intelligence Augment Human Decision Making?

By CIOReview | Tuesday, August 13, 2019

The emergence of cognitive intelligence will significantly augment decision making across several industrial sectors.

FREMONT, CA – Cognitive computing is similar to artificial intelligence (AI) in more ways than one. However, the fundamental differences that separate the two are quite significant. AI can be considered a highly sophisticated functional algorithm, when given specific inputs, offers predictable outputs. Simply put, AI devices are designed to reach the best decision within a given set of parameters.

Like AI systems, cognitive intelligence devices leverage machine learning (ML), natural language processing (NLP), and data mining techniques. However, the difference lies in the fact that cognitive systems are closer to human brains when it comes to reasoning and decision making, even when faced with contradictory information. Cognitive models process all the available data while considering every parameter to come up with a decision which can be comparatively subjective.

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Post analysis, cognitive systems choose the best solution from an array of possible solutions, which might not necessarily be the optimal solutions. Whereas AI systems are designed to perform specific tasks, cognitive platforms are intended for collaborative decision making.

In healthcare, cognitive systems can be leveraged by doctors and physicians for patient diagnosis, leveraging the robust computing capabilities to analyze the patient data and identify the diseases more accurately. Businesses can utilize the capabilities of cognitive systems to analyze the risk factors and reach more productive decisions.

Cognitive systems will make significant progress in the financial sector. Currently, even with the automation of data processing, many businesses are struggling to make the most profitable decisions. The incorporation of cognitive decisions will enable organizations to analyze the troves of financial data in a matter of minutes to come up with strategies that might not be apparent to human experts.

Consumer service will potentially witness the dominance of cognitive intelligence in the coming years, including in retail and corporate communications. AI-based chatbots are already being leveraged by organizations to assist their customers. The integration with cognitive intelligence will introduce a new level of sophistication, thus enabling significant personalization and enhancement of consumer service.

Rather than replacing human processes and displacing workers, cognitive intelligence will expand businesses, creating more jobs and paving the way into new sectors. Cognitive intelligence is the next big thing in the technological industry, and its rise is unquestionable.